Published on 21/11/2019 3:14:52 PM | Source: Dion Global Solutions Ltd

CSB Bank announces launch of initial public offering

Posted in Top Stories| #IPO

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CSB Bank Ltd. has announced public offering of 21009067 shares at a price of Rs 10.00 each for Cash at a Premium of Rs 185.00 per share. The gross proceeds of the issue are expected to be Rs 40,967.68 lakhs.

The company's initial public offer (IPO) will open on 22 November 2019 and is expected to close on 26 November 2019, subject to customary closing conditions. The price band of the issue has been fixed at Rs 193.00-195.00 per share. The IPO includes a fresh Issue of 21009067 Equity Shares of the Company at an price of Rs 195.00 per Equity Share.

The company has fixed the minimum bid lot for the issue at 75 shares with bids in multiples of 75. CSB Bank Ltd. anticipates using the proceeds of the issue for . Axis Capital Ltd.,IIFL Securities Limited as lead manager(s) & Link Intime India Private Limited is the registrar, to the issue.